Palin believes the criticism is unfounded, and that the debate will be a great platform for candidates to express their views.

"I think candidates should not be afraid in front of the nation no matter who the host of the debate is," Palin told the Fox Business Network on Wednesday night. "What is a bit appealing about this idea of Trump hosting a debate is, consider the diverse audience that perhaps he can attract."

Romney, behind Gingrich in recent polls, is missing a big opportunity by skipping the Trump debate, Palin says. Donald Trump - and Gingrich - have also questioned Romney for not participating.

"I think Romney could and should still change his mind and Huntsman too and jump in there and participate," Palin told Fox Business News.

Palin, not surprisingly, said she would have participated in the debate if she was running for the White House.

"America needs to wake up to what is going on under Obama's socialist policies and how he will bankrupt the country," she told Fox Business News. "I'm looking at the debate as a positive thing because of that fact."

Palin, who flirted with the idea of running for President, has yet to endorse a candidate. However, she praised Gingrich to Fox, saying he has "been a bit more successful" than Romney in courting party activists.